“Price-to-income ratio has come down from 5.1 in 2016 to 4.6 this year” This explains why, despite the higher PSF, new launches are still popular with buyers. The volume shows there is higher demand for new launches vs resale condos.
Many clients are puzzled why new launches are able to achieve capital appreciation despite the higher PSF and why older resale condos are facing stagnation in prices despite their lower PSF.
What are the underlying reasons for property buyer behaviors? PM us and we will share these important findings which you can put to good use when you wish to structure your property portfolio.